GOSI subscribers increase by 30% in 2013

Updated 29 July 2014
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GOSI subscribers increase by 30% in 2013

The General Organization for Social Insurance (GOSI) recorded a 30-percent increase in the number of subscribers in 2013.
Most of the 9.1 million members come from the private sector, according to an annual GOSI statistical report.
More than 295,000 people receive pensions worth an estimated SR1.1 billion per month, suggesting that a higher cumulative value has been dished out, said Sulaiman Gwaiz, GOSI governor and vice chairman.
“GOSI’s investment portfolio rose to more than SR114 billion across 86 companies,” he said.
“GOSI also focused on real estate investments, acquiring or investing in 15 buildings worth SR4 billion, in addition to several other buildings under construction.”


Major boost for Al-Jouf as Saudi king set to announce new city

King Salman arrived in Al-Jouf on Tuesday. (SPA)
Updated 21 November 2018
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Major boost for Al-Jouf as Saudi king set to announce new city

  • The king will launch Waad Al-Shamaal, a new city aimed at boosting the country’s mining infrastructure

JEDDAH: Projects worth several billion riyals are to be unveiled by Saudi Arabia’s king this week as he continues his tour of the country’s regions.
King Salman arrived in the province of Al-Jouf on Tuesday night where he will announce the construction of a new city, bolstering the local economy and creating thousands of jobs in Saudi Arabia’s most northern region.
On Thursday, the king will launch Waad Al-Shamaal, a new city aimed at boosting the country’s mining infrastructure, the Saudi Press Agency reported. 
He will lay the foundation stone for the first phase of the SR85 billion ($22 billion) city in Toriaf province — worth SR55 billion —  and is also set to inaugurate the projects and facilities of the second phase — worth SR30 billion.
In the past two months the king has visited a number of major cities, announcing projects and initiatives to develop the Kingdom inline with Vision 2030 — a broad strategic plan to diversify the economy and end dependence on oil revenues.
Before arriving in Al-Jouf, King Salman visited Tabuk, where several projects worth more than SR11 billion were launched.
He also met the team heading Amaala, the ultra-luxurious tourist destination that was unveiled in September and dubbed the “Riviera of the Middle East,” and was briefed on plans for the new attraction.
King Salman praised Amaala’s objectives to contribute to promoting economic diversification, creating investment opportunities for the private sector, and developing the tourism sector in Saudi Arabia while preserving the cultural and environmental heritage.
Meanwhile, the Kingdom’s Public Investment Fund (PIF) announced yet another major project in western Saudi Arabia.
Wadi Al-Disah Development Project, which is expected to become one of the Kingdom’s most environmentally diverse tourist attractions, adds to a number of already launched ventures on western coastal regions.
PIF will establish a company to develop Wadi Al-Disah in accordance with international best practices regarding environmental conservation and sustainable development.
In addition to this week’s tour, the king has so far visited Madinah, Qassim and Hail.